NZDCHF: Testing Previous Swing Highs!

Apr 25, 2020

4Hr Time Frame: Price is back at strong areas of resistance. By reading price action we can see that price tested this area in the past, showed signs of rejection and had a reaction to the downside. Reading structure price looks as if its ranging in between our support and resistance zones above (gray boxes). If price manages to hold below this strong area of .58500 key psychological resistance, then we can look to sell this pair down to .58100 (first target). However, if price shows signs of bullish strength and manages to break through this resistance zone then we can potentially see .59500. Due to uncertainty of market fluidity, risk management is highly recommended.